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Some of you guys are scaring the heck out of me!

Discussion in 'Starting a Lawn Care Business' started by CLT Bluesman, Feb 11, 2020.

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  1. Mac-s Lawn & Snow

    Mac-s Lawn & Snow LawnSite Senior Member
    Messages: 459

    Bluesman, you asked a question about incentives to keep your employee and I'm just spitballing here: What about telling him If he works for you for something like 5 years you will hand over something like 40 percent of the company. At that time explain that you want step back from the day to day operations and want him to buy more into the company leaving you with something around a 20 percent share. If this guy is a good as he sounds, somebody will poach him or he will go out on his own at some point.
     
    CLT Bluesman likes this.
  2. OP
    OP
    CLT Bluesman

    CLT Bluesman LawnSite Member
    Messages: 234

    I told him exactly that.
     
  3. TPendagast

    TPendagast LawnSite Fanatic
    Male
    Messages: 17,234

    You’d find in ten minutes if you did that restaurants fail at 17% in the first year
    Contractors and painters at 19% and it says that’s “the same for landscapers”
    However that ONLY factors in REGISTERED businesses not the crowds of illegal non legit landscape companies which comprise most of the new guys on this board asking questions,

    when you factor in those businesses, the failure rate is much much higher.

    everyone who’s been doing this a while knows that plateau is 3-5 years, if you make it past that ; chances are you will stick around... most fail before that.
    Registered businesses in landscaping fail over 50% in the first three years.
    Again factoring in all the business someone started and no one ever knew existed in order to be included in that statistic , the odds against you starting and succeeding in a landscape company out of your garage with your savings, 401lk, quitting your job and using your garage as a base of operations is very very mich stabbed against you.

    especially with no business plan and no prior training Or experience.
    Mowing a few lawns doesn’t give you experience
    Plenty of trained employees in the business can’t put together an estimate/quote not to mention even know what a P&L is.

    so NO restaurants DONT fail more often than landscapers
    It’s A HUGE myth , perpetrated mostly by people who can’t read or even use google for ten minutes.

    I know these things because I’ve been doing this for going on 30 years, but I should provide links to thirty years of knowledge because you heard or erroneously believe random misinformation.

    IF you learn about business
    Take some courses
    Build a business plan
    Go to work for someone else for 3-5 years to actually learn the trade
    Save up money
    And THEN start your own business (which by the way is the natural order of an old fashioned apprenticeship)
    Then you will be much more likely to succeed.

    of course I’ve offered that information for over a decade now on this very forum

    If you used the search engine you could you know, READ that.
     
  4. TPendagast

    TPendagast LawnSite Fanatic
    Male
    Messages: 17,234

    Btw
    On SS you don’t actually get “penalized” if you earn more than 18k

    it’s not like you “lose” that money. It just doesn’t pay out right then, you’ll get it later , it stays in your account.

    technically (assuming you don’t die) you actually get more money over time , from SS, if you start taking it early

    there’s a lot of videos and articles on it you can google.

    also I’d consult an tax attorney , but I think you can set up your business to only pay you 18k or whatever and the profits are separate from your income (you may need to be a c Corp to do this)
    But someone with a better pay scale and more college than I have would know more about that.

    Everything in business is about how you structure it.
     
    Cam15 likes this.
  5. rippinryno

    rippinryno LawnSite Silver Member
    Messages: 2,338

    I want to know how this back and forth went on so long with the name calling, shoot if I had posted here this thread would be locked and posts deleted faster than you can count to 3.
     
  6. Michael J. Donovan

    Michael J. Donovan Head Moderator, Online Communities Staff Member
    Messages: 4,676

    thinking this thread has run it's course...
     
    Wink'sLawnManag. and rclawn like this.
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